Perpetual 1I The following units of a particular item were available for sale during the calendar year: Jan. 1 Apr. 19 June 30 Inventory Sale Purchase Sale Purchase 4,000 units at $20 2,500 units 6,000 units at $24 4,500 units 1,000 units at $25 Nov. 15 The firm maintains a perpetual inventory system. Determine the cost of merchandise sold for each sale and the inventory balance after each sale, assurming thef the data in the form illustrated in Exhibit 3. Under FIFO, if units are in inventory at two different costs, enter the units with the LOWER unit cost first in the Cost of column and in the Inventory Unit Cost column. FIFO Method Purchases Unit Total Cost Quantity Unit Cost Total Cost Quantity Date an. 1 Apr. 19 une 30